Unacademy co-founder Gaurav Munjal plans to become Executive Chairman as Akhilendra Kumar is set to take over as CEO, with Munjal saying he will remain involved in daily operations and help with upGrad’s IPO.
Munjal announced the move in a Nov. 11 post on X. He said he would work alongside Kumar and stay active in daily operations. “I’m not going anywhere,” he wrote. He did not explain how the two executives would divide responsibilities.
Khaitan & Co, which advised upGrad, described the completed transaction as a 100% acquisition of Sorting Hat Technologies Pvt Ltd (Unacademy) for $205 million in total consideration in a Sept. 10, 2026, firm matter.
The Competition Commission of India (CCI) cleared the proposed combination on July 7, 2026, covering an acquisition of shares in Sorting Hat Technologies and its subsequent merger with upGrad. The CCI said the combination would bring online test preparation into upGrad’s offerings and help it reach more learners. Its summary also said Sorting Hat shareholders could realize value in a consolidated company.
Munjal’s new role follows earlier plans to balance Unacademy responsibilities with an investing venture. EconoTimes’ earlier coverage of the proposed Longshot Capital fund, citing The Economic Times, said Munjal and co-founder Roman Saini were seeking ₹7 billion after years of angel investing. The outlet reported that Munjal expected to take a part-time role in the fund while continuing at Unacademy. It also reported a January 2027 first-close target and said the fundraising amount and schedule could change. Longshot was expected to back 25 to 28 seed and pre-Series A companies in areas including artificial intelligence, manufacturing, space, defense and robotics. Munjal did not give a start date for Kumar or a timeline for upGrad’s IPO.
